Sunnova Energy International (NYSE:NOVA) Given New $17.00 Price Target at Evercore ISI

Sunnova Energy International (NYSE:NOVA) had its target price lowered by Evercore ISI from $26.00 to $17.00 in a research note issued to investors on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on NOVA. KeyCorp downgraded shares of Sunnova Energy International from an overweight rating to a sector weight rating in a research report on Tuesday, April 23rd. Janney Montgomery Scott raised shares of Sunnova Energy International from a neutral rating to a buy rating and set a $12.00 target price for the company in a research note on Friday, March 22nd. Robert W. Baird cut their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an outperform rating on the stock in a research report on Friday. Susquehanna lowered their price objective on Sunnova Energy International from $20.00 to $12.00 and set a positive rating for the company in a research report on Friday, April 5th. Finally, B. Riley dropped their price objective on Sunnova Energy International from $21.00 to $15.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.71.

Sunnova Energy International Trading Up 8.4 %

NYSE NOVA traded up $0.37 during trading hours on Friday, reaching $4.79. The company’s stock had a trading volume of 15,122,585 shares, compared to its average volume of 9,639,226. The stock has a market cap of $593.19 million, a P/E ratio of -1.42 and a beta of 2.15. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56. The firm has a fifty day simple moving average of $5.05 and a 200-day simple moving average of $9.11. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. The firm had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same quarter in the previous year, the company posted ($0.70) EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Sunnova Energy International will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. Insiders have sold 23,580 shares of company stock worth $137,382 over the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Sunnova Energy International by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after purchasing an additional 215,905 shares during the period. Electron Capital Partners LLC lifted its position in shares of Sunnova Energy International by 42.9% during the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after buying an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after acquiring an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Sunnova Energy International by 57.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after acquiring an additional 484,150 shares during the last quarter. Finally, Guinness Asset Management LTD raised its stake in Sunnova Energy International by 5.9% in the 3rd quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock valued at $12,981,000 after acquiring an additional 69,539 shares during the period.

Sunnova Energy International Company Profile

Sunnova Energy International Inc engages in the provision of energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services.